Examining Anxiety as an Additional Antecedent to Trust and Commitment in Financial Planning
References
- Alyousif, M & Kalenkoski, C 2017, ‘(Mis)trusting financial advisers’, SSRN Electronic Journal, pp. 1–69.
https://doi.org/10.2139/ssrn.2955828 . - American Psychiatric Association 2026, ‘Annual mental health poll finds Americans anxious about current events, personal finances and emerging technology,’
https://www.psychiatry.org:443/news-room/news-releases/2026-annual-mental-health-poll - Anderson, C, Sharpe, DL, McCoy, M & Lawson, D 2022, ‘Developing and maintaining client trust and commitment in a rapidly changing environment,’ Financial Planning Association,
https://www.financialplanningassociation.org/sites/default/files/2022-02/Client_Comm_Trust_Chapter1_FIN.pdf . - Archuleta, KL, Dale, A & Spann, SM 2013, ‘College students and financial distress: Exploring debt, financial satisfaction, and financial anxiety’, Journal of Financial Counseling and Planning, vol. 24, no. 2, pp. 50–62.
- Britt, SL, Mendiola, MR, Schink, GH, Tibbetta, RH & Jones, SH 2016, ‘Financial stress, coping strategy, and academic achievement of college students’, Journal of Financial Counseling and Planning, vol. 27, no. 2, pp. 172–183.
https://doi.org/10.1891/1052-3073.27.2.172 . - Brown, JR, Crosno, JL & Tong, PY 2019, ‘Is the theory of trust and commitment in marketing relationships incomplete?’, Industrial Marketing Management, vol. 77, pp. 155–169,
https://doi.org/10.1016/j.indmarman.2018.10.005 . - Brüggen, EC, Hogreve, J, Holmlund, M, Kabadayi, S & Löfgren, M 2017, ‘Financial well-being: A conceptualization and research agenda’, Journal of Business Research, vol. 79, pp. 228–237,
https://doi.org/10.1016/j.jbusres.2017.03.013 . - Calcagno, R & Monticone, C 2015, ‘Financial literacy and the demand for financial advice’, Journal of Banking & Finance, vol. 50, pp. 363–380,
https://doi.org/10.1016/j.jbankfin.2014.03.013 - Cheng, Y, Browning, C & Gibson, P 2017, ‘The value of communication in the client-planner relationship’, Journal of Financial Planning, vol. 30, no. 8, pp. 36–44.
- Cull, M & Sloan, T 2016, ‘Characteristics of trust in personal financial planning’, Financial Planning Research Journal, vol. 2, no. 1, pp. 12–35, doi:10.2478/fprj-2016-0001.
- Cummings, BF & James, RN III 2014, ‘Factors associated with getting and dropping financial advisors among older adults: Evidence from longitudinal data’, Journal of Financial Counseling and Planning, vol. 25, no. 2, pp. 129–147.
- Dobson, D. J., & Dobson, K. S. 2018, ‘Avoidance in the clinic: Strategies to conceptualize and reduce avoidant thoughts, emotions, and behaviors with cognitive-behavioral therapy’. Practice Innovations, vol. 3, no. 1, pp. 32–34.
https://doi.org/10.1037/pri0000061 - Fulk, M, Watkins, K, Grable, J & Kruger, M 2018, ‘Who changes their financial planner?’, Journal of Financial Planning, vol. 31, no. 8, pp. 48–56.
- Gerrans, P & Hershey, DA 2017, ‘Financial adviser anxiety, financial literacy, and financial advice seeking’, Journal of Consumer Affairs, vol. 51, no. 1, pp. 54–90,
https://doi.org/10.1111/joca.12120 . - Grable, JE, Archuleta, KL, Ford, MR, Kruger, M, Gale, J & Goetz, J 2020, ‘The moderating effect of generalized anxiety and financial knowledge on financial management behavior’, Contemporary Family Therapy, vol. 42, no. 1, pp. 15–24,
https://doi.org/10.1007/s10591-019-09520-x . - Grable, JE & Britt, SL 2012, ‘Assessing client stress and why it matters to financial advisors’, Journal of Financial Service Professionals, vol. 66, no. 2, pp. 39–45.
- Hair, JF Jr, Hult, GTM, Ringle, CM, Sarstedt, M, Danks, NP & Ray, S 2021, ‘An introduction to structural equation modeling’, in Partial least squares structural equation modeling (PLS-SEM) using R, Springer, Cham,
https://doi.org/10.1007/978-3-030-80519-7_1 . - Hanlon, R., Leher, P., Cohen, A., Miller, E., Hancock, M. & Mitchell, R. 2025, ‘Psychophysiological finance and intelligent wellness: A new financial planning practice model,’ Financial Services Review, 33(2), pp.1–14.
- Hanna, SD & Lindamood, S 2010, ‘Quantifying the economic benefits of personal financial planning’, Financial Services Review, vol. 19, no. 2, pp. 111–127,
https://doi.org/10.61190/fsr.v19i2.4968 . - Hartnett, N 2010, ‘Trust and the financial planning relationship’, The Journal of the Securities Institute of Australia, no. 1, pp. 41–46.
- Hashim, KF & Tan, FB 2015, ‘The mediating role of trust and commitment on members’ continuous knowledge sharing intention: A commitment-trust theory perspective’, International Journal of Information Management, vol. 35, no. 2, pp. 145–151,
https://doi.org/10.1016/j.ijinfomgt.2014.11.001 . - Hunt, KHM, Brimble, M & Freudenberg, B 2011, ‘Determinants of client-professional relationship quality in the financial planning setting’, Australasian Accounting Business and Finance Journal, vol. 5, no. 2, pp. 69–100,
https://doi.org/10.2139/ssrn.1867907 . - Kenny, D.A., Kaniskan, B. & McCoach, D.B. 2015, ‘The performance of RMSEA in models with small degrees of freedom,’ Sociological Methods & Research, vol. 44, no. 3, pp.486–507.
https://doi.org/10.1177/0049124114543236 - Kinsman, J., Rootman, C. and Antoni, X., 2023, ‘CFP® professionals’ perceptions of establishing client relationships in a South African context,’ Journal of Economic and Financial Sciences, vol. 16, no. 1, p.12.
- Kline, RB 2016, Principles and practice of structural equation modeling, 4th edition, Guilford Press, New York.
- Lerner, JS, Li, Y, Valdesolo, P & Kassam, KS 2015, ‘Emotion and decision making’, Annual Review of Psychology, vol. 66, pp. 799–823,
https://doi.org/10.1146/annurev-psych-010213-115043 - Lim, H, Heckman, SJ, Letkiewicz, JC & Montalto, CP 2014, ‘Financial stress, self-efficacy, and financial help-seeking behavior of college students’, Journal of Financial Counseling and Planning, vol. 25, no. 2, pp. 148–160.
- Loewenstein, GF, Weber, EU, Hsee, CK & Welch, N 2001, ‘Risk as feelings’, Psychological Bulletin, vol. 127, no. 2, pp. 267–286,
https://doi.org/10.1037/0033-2909.127.2.267 - Lurtz, M 2020, ‘Distinguishing financial stress from anxiety and client communication strategies to help’, Kitces.com,
https://www.kitces.com/blog/distinguish-financial-stress-from-anxiety-and-client-communication-strategies-to-help/ . - Mayer, RC, Davis, JH & Schoorman, FD 1995, ‘An integrative model of organizational trust’, Academy of Management Review, vol. 20, no. 3, pp. 709–734,
https://doi.org/10.2307/258792 - McCoy, M, Machiz, I, Harris, J, Lynn, C, Lawson, D & Rollins-Koons, A 2022, ‘The science of building trust and commitment in financial planning: Using structural equation modeling to examine antecedents to trust and commitment’, Journal of Financial Planning, vol. 35, no. 12, pp. 68–89.
- McCoy, M. & Rollins-Koons, A. 2025, ‘Building trust, commitment, and satisfaction through effective intersession communication: The moderating effect of financial anxiety,’ Journal of Financial Planning, vol. 38, no. 1, pp.82–96.
- McCoy, M, Watkins, K, White, K, Kahler, R & Reiter, M 2024, ‘The importance of the “client” experience for financial planning students: A qualitative inquiry of themes’, Journal of Financial Counseling and Planning, vol. 35, no. 2, pp. 264–275, doi:10.1891/JFCP-2022-0077.
- Morgan, RM & Hunt, SD 1994, ‘The commitment-trust theory of relationship marketing’, Journal of Marketing, vol. 58, no. 3, pp. 20–38,
https://doi.org/10.1177/002224299405800302 . - Muthén, LK & Muthén, BO 1998–2024, Mplus user’s guide, 9th edition, Muthén & Muthén, Los Angeles, CA.
- Netemeyer, RG, Warmath, D, Fernandes, D & Lynch, JG Jr 2018, ‘How am I doing? Perceived financial well-being, its potential antecedents, and its relation to overall well-being’, Journal of Consumer Research, vol. 45, no. 1, pp. 68–89,
https://doi.org/10.1093/jcr/ucx109 - Pittman, CM & Karle, EM 2015, Rewire your anxious brain: How to use the neuroscience of fear to end anxiety, panic, and worry, New Harbinger Publications, Oakland, CA.
- Porges, SW 2011, The polyvagal theory: Neurophysiological foundations of emotions, attachment, communication, and self-regulation, W. W. Norton & Company, New York.
- Pullen, C & Rizkalla, L 2003, ‘Use of self in client relationships’, Journal of Financial Planning, vol. 16, pp. 36–37.
- Rather, RA 2019, ‘Consequences of consumer engagement in service marketing: An empirical exploration’, Journal of Global Marketing, vol. 32, no. 2, pp. 116–135,
https://doi.org/10.1080/08911762.2018.1454995 . - Rollins-Koons, A., Lawson, D., McCoy, M., Wu, J., Anderson, J. & Ludwig, E 2024, ‘Exploring the relationships between virtual client meetings, financial anxiety, and trust in financial planning,’ Financial Planning Research Journal, vol. 10, no. 1, pp.1–21.
- Rousseau, DM, Sitkin, SB, Burt, RS & Camerer, C 1998, ‘Not so different after all: A cross-discipline view of trust’, Academy of Management Review, vol. 23, no. 3, pp. 393–404,
https://doi.org/10.2307/259285 . - Sages, RA, Britt, SL & Cumbie, JA 2013, ‘The correlation between anxiety and money management’, College Student Journal, vol. 47, no. 1, pp. 1–11.
- Shapiro, GK & Burchell, BJ 2012, ‘Measuring financial anxiety’, Journal of Neuroscience, Psychology, and Economics, vol. 5, no. 2, pp. 92–103,
https://doi.org/10.1037/a0027647 . - Sharpe, D, Anderson, C, White, A, Galvan, S & Siesta, M 2007, ‘Specific elements of communication that affect trust and commitment in the financial planning process’, Journal of Financial Counseling and Planning, vol. 18, no. 1, pp. 2–17.
- Taber, KS 2018, ‘The use of Cronbach’s alpha when developing and reporting research instruments in science and education’, Research in Science Education, vol. 48, pp. 1273–1296,
https://doi.org/10.1007/s11165-016-9602-2 . - Warnock-Parkes, E., Wild, J., Thew, G. R., Kerr, A., Grey, N., Stott, R., ... & Clark, D. M 2020, ‘Treating social anxiety disorder remotely with cognitive therapy,’ The Cognitive Behaviour Therapist, 13.
- Yeske, DB 2010, ‘Finding the planning in financial planning’, Journal of Financial Planning, vol. 23, no. 9, pp. 40–52.
Language: English
Published on: Sep 20, 2026
Published by: Financial Advice Association of Australia
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year
Keywords:
Related subjects:
© 2026 Ashlyn Rollins-Koons, Ives Machiz, Megan McCoy, Joanne Wu, Kenneth White, published by Financial Advice Association of Australia
This work is licensed under the Creative Commons Attribution 4.0 License.